I have been following with interest your articles [“Slow To Take,” Residence, April 2] concerning the use of Multiple Listing Services in our area. Let’s see how this works.
1. All listings submitted to MLS would have to be exclusive so that the seller is protected and guided by the listing agent, who is assured to be paid 40 percent of the gross commission if another broker sells the property. Said protection would include the right to be present at any or all showings.
2. The selling broker would receive 60 percent of the commission if he or she sells the property. This is guaranteed by the terms of the exclusive listing.
3. The sellers like the plan because their property is exposed to all members of the MLS and, therefore, cannot be hidden away waiting for the listing agent to find a buyer without assistance.
4. The buyers love it because they can be assured that they can view the “real” market, unafraid that a broker is keeping a “hip pocket listing” in-house only.
5. The brokers resist with the thinking that it’s better to wait for a full 6 percent (which may or not come) than work for less and customer service goes out the window.
In conclusion, what is good for sellers and good for buyers has the impression of being bad for brokers. The opposition to multiple listings really don’t get it!